Publication Date: 1st December 2013
The Geneva Association response to the International Association of Insurance Supervisors (IAIS) 2013 Draft Common Framework for the Supervision of Internationally Active Insurance Groups (ComFrame). The Geneva Association supports the ComFrame objective of efficient and effective group-wide supervision of internationally active insurance groups (IAIGs).
In April 2013, The Geneva Association contributed to the ComFrame discussion by publishing a survey of chief risk officers (CROs) on group-wide risk and capital management of IAIGs. Therefore, the answer to the consultation focuses primarily on the area of capital adequacy (Module 2, Element 5) in view of the future development of a risk-based global insurance capital standard.